Elys Game Technology eyes Q3 entry into Canada

Legislative changes in Canada have been cited as a factor

Elys Game Technology has earmarked the third quarter of this year for the launch of its online sportsbook platform in Canada.

The B2B gaming and sports betting technology firm also expects the platform to go live in several US markets in Q3 after making ‘significant progress’ on strategy and preparations for its North American online channel.

Mobile apps are expected in both iOS and Android versions on a ‘state-of-the-art’ GLI-33 certified platform with a broad range of customization tools and ‘rigorous’ cybersecurity features.

Michele Ciavarella, Executive Chairman of Elys Game Technology, explained: “Since the repeal of the Professional and Amateur Sports Protection Act in 2018 we have seen the US market begin to take shape with many years of growth and development potentially ahead.

“The liberalization of the US market has also led to greater market opportunities with legislative changes in Canada as well. Elys has taken this early-stage opportunity to analyze market behavior and to better understand what North American sports bettors want, rather than race to gain market share in uncharted spaces.

“We have always believed that this patient, methodical approach, and years of data analysis would result in Elys offering a highly intuitive sportsbook and igaming product line-up.”

Elys currently has B2B operations in the District of Columbia and five states in the US with the aim of becoming a ‘global leader’ in the gaming industry through the ‘development of pioneering and innovative technology’.

Reporting its results for the 2022 fiscal year earlier this month, Ely revealed a net decrease in reported turnover of $95.88m from $1.12bn to $1.02bn.

Meanwhile, amid investment in US expansion through technology and licensing strategies, Ely’s ‘go-to-market strategy’ for its first full year of US facing operations ‘reflected remarkable service-based revenue growth’ of 150.2%, or $2.14m to $3.48m.

Ciavarella added: “Our previously announced partnerships in both online and retail deployments in North America have been instrumental in developing our new mobile product so that Elys could offer the largest range of events combined with the most competitive odds and player tools available in the US to rival top competitors currently in the North American space.

“We expect to provide additional information over the coming months as Elys moves forward with state-by-state and tribal openings throughout the year.”

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